Restricted purchase of New Deal gradually expands, with little impact on the home market

China board trading network news:

With the release of the Beijing Real Estate Restricted Loan Policy, Guangzhou, Shanghai, and Shenzhen have also introduced new housing policies. The purchase of the New Deal has not only been fully implemented in the four major first-tier cities, but has also gradually expanded to the third- and fourth-tier cities. It is understood that the relevant restrictions on purchase policies throughout the country are still playing "patch." So, will this new housing policy affect the home industry?

Restricted purchase of the New Deal in the implementation of the four first-tier cities

On March 17th, Beijing introduced a new policy requesting that “under the family’s family’s name, one housing unit already exists in the city, and no housing in the city but commercial housing loan records or provident fund housing loan records, purchase of ordinary self-contained housing. The proportion of down payment is not less than 60%, and the proportion of down payment for purchasing non-ordinary self-contained housing is not less than 80%. On the evening of the 17th, Guangzhou also introduced a new regulation and control policy. The non-household population purchase threshold was extended from 3 years of continuous payment of social security or individual taxes to 5 years; adults single or divorced persons can only purchase one set, and the sword refers to the “false divorce” purchase loophole. "From Shanghai to Shenzhen, from Beijing to Guangzhou, the recognition of housing and the recognition of loans have been fully implemented in the four major first-tier cities. The policy instruments have convergence," said Li Yujia, a senior researcher at Shenzhen Real Estate Research Center.

This round of regulation has gradually expanded to the third and fourth tier cities

Taking Beijing as the center, since March, four cities including Zhangzhou in Hebei Province, Qinshui County in Baoding City, Chongli District in Zhangjiakou City, and Shijiazhuang City have successively introduced purchase restriction policies. Jiashan County, Zhejiang Province, which is located in the Shanghai area, has restricted the purchase of new houses and second-hand houses. It has explicitly suspended the sale of newly built commercial housing to non-county households with one or more houses in Jiashan County. “Control policies issued by Zhangzhou, Qinshui and Jiashan counties in Hebei Province indicate that the spillover effects of Beijing and Shanghai's first-tier cities are gradually increasing.” Zhang Hongwei, director of the consulting and research department of Tongze, said that this round of regulation has been from first-tier cities and hot second-tier cities. Expanded to some third- and fourth-tier cities.

Related restrictions on purchase policies throughout the country are still playing "patch"

Nanjing, which is known by the industry as the “four little dragons” in the property market, has clearly defined that since March 16th, Nanjing households have restricted the purchase of a third house, while the non-domestic residents’ purchase scope has expanded to three districts, namely Gaochun, Lishui, and Liuhe. This was after Nanjing tightened the policy of the property market in August, September and October last year. However, Zhengzhou, which has issued the regulation of the property market twice, has made it clear that all social security guarantees and tax payment vouchers that are paid back after March 17th are no longer valid vouchers for home purchases, and are “payable” in February. The regulations are amended.

The property market has a lagging impact on the home industry, with little impact

As a home furnishing industry, the real estate industry is affected by the country's macro-control and has strong periodicity. However, the impact of real estate on the household industry is lagging behind. The home industry has a higher correlation with the delivery time, and real estate companies have a relatively stable rate of delivery. In addition, the ratio of renovations to existing housing stocks is also on the rise, especially in key cities in the first-tier cities. The proportion of second-hand housing and stockroom renovation has already accounted for more than 30%, and it has been increasing year by year. Therefore, the real estate regulation is more stringent. For plates, floors, wooden doors, furniture and other industries, the impact is not great.

Since the end of the two sessions, all regions have introduced more restrictive purchase policies than before, which have spread across the country. Among them, the influence of first-tier cities and some provincial capital cities has been far-reaching. In this situation, although the impact of real estate control policies on the household industry is lagging behind, the current impact is not large, but the pressure for the transformation and upgrading of major home companies is still severe. Only the focus on original output, improve service quality, and use the highest quality The product meets consumer demand before it can laugh at the vagaries of the industry market.

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